JOHN HANSON: Responds to concerns about tax overhaul

TO THE EDITOR:

I read with interest the letter to the editor by Peggy Raddatz titled, “Don’t be fooled by Republican tax overhaul,” which appeared in the News Advocate on Jan. 17. She claimed that: “Instead of investing in America, we took on this huge monetary obligation to pay for tax cuts that overwhelmingly benefit the elite and large multi-national corporations.”

Democrat representative Nancy Pelosi said that: “The bill that the Republicans are putting forth to go to conference is probably one of the worst bills in the history of the United States of America.”

Ms. Raddatz may agree with Mrs. Pelosi, but she apparently did not see the article from the Associated Press that appeared in the News Advocate on Jan. 11 titled, “A sample of companies planning bonuses in wake of tax cuts.” The article listed 14 well-known companies including AT&T, Bank of America and American Airlines that are giving millions of dollars in bonuses to thousands of their workers.

Boeing claims it will now spend $300 million on its workers. Wells Fargo is increasing its wages from $13.50 to $15 an hour for its lowest paid employees. Apple, Inc. says that because of the tax cuts, it plans to spend $350 billion in the United States in the next five years.

Spellex, a Tampa-based software developer, gave its employees thousand dollar bonuses, and in the memo section of the checks put “Trump Tax Cut and Jobs Act.”

Many other companies are planning to follow these examples.

Ms. Raddatz complains: “This reckless bill, in fact, unfairly redistributes wealth from everyday Americans to the top 1 percent. In the long run it will devastate low and middle income earners and hurt the economy.”

While I haven’t read the bill to know the truth of her statements, I must say that I am thankful for those who are rich (“the elite”). They hire us, the “low and middle income earners,” to provide services and build their mansions, their cars, their planes and yachts, giving us the opportunity to increase our wealth.

Somehow it turns out that the wealthier we are, the more taxes we pay. It seems to me that the tax cuts are already working for the good of our country.

Probably few people know that our wealthy president does not accept his salary for himself, but gives it to worthy organizations and national interests. Many folks who are rich do the same.

John Hanson

Manistee

Leave a Reply